Thornburg International Correlations

TIGVX Fund

USD 23.06 0.02 0.09%

The correlation of Thornburg International is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Thornburg International Correlation With Market

Significant diversification

The correlation between Thornburg International Growth and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg International Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Thornburg International Growth. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Thornburg Mutual Fund

0.78	RERFX	Europacific Growth	Pair Corr
0.87	AEPFX	Europacific Growth	Pair Corr
0.87	CEUAX	Europacific Growth	Pair Corr
0.88	CEUCX	Europacific Growth	Pair Corr
0.78	RERCX	Europacific Growth	Pair Corr
0.87	REREX	Europacific Growth	Pair Corr
0.87	RERGX	Europacific Growth	Pair Corr
0.78	CEUFX	Europacific Growth	Pair Corr
0.78	CEUEX	Europacific Growth	Pair Corr
0.88	RERAX	Europacific Growth	Pair Corr
0.63	PFN	Pimco Income Strategy	Pair Corr
0.7	XPPRX	Voya Prime Rate	Pair Corr
0.68	PCF	Putnam High Income	Pair Corr
0.73	DD	Dupont De Nemours	Pair Corr
0.72	WMT	Walmart	Pair Corr
0.71	GE	GE Aerospace	Pair Corr
0.73	IBM	International Business	Pair Corr
0.7	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	TVRRX	TVRFX	TNYIX	TGVAX	TGVIX	TGVRX	THCAX	THCGX	THCHX
TVRRX		0.93	-0.31	-0.62	-0.69	-0.62	-0.7	0.93	-0.7	TVRRX
TVRFX	0.93		-0.43	-0.7	-0.68	-0.7	-0.77	0.99	-0.78	TVRFX
TNYIX	-0.31	-0.43		0.62	0.57	0.62	0.82	-0.43	0.81	TNYIX
TGVAX	-0.62	-0.7	0.62		0.88	1.0	0.86	-0.71	0.86	TGVAX
TGVIX	-0.69	-0.68	0.57	0.88		0.88	0.8	-0.7	0.8	TGVIX
TGVRX	-0.62	-0.7	0.62	1.0	0.88		0.86	-0.71	0.85	TGVRX
THCAX	-0.7	-0.77	0.82	0.86	0.8	0.86		-0.79	1.0	THCAX
THCGX	0.93	0.99	-0.43	-0.71	-0.7	-0.71	-0.79		-0.79	THCGX
THCHX	-0.7	-0.78	0.81	0.86	0.8	0.85	1.0	-0.79		THCHX
	TVRRX	TVRFX	TNYIX	TGVAX	TGVIX	TGVRX	THCAX	THCGX	THCHX

Click cells to compare fundamentals

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TGVRX	+ 1.0	TGVAX
THCHX	+ 1.0	THCAX
THCGX	+ 0.99	TVRFX
TVRFX	+ 0.93	TVRRX
THCGX	+ 0.93	TVRRX
TGVIX	+ 0.88	TGVAX

High negative correlations

THCHX	- 0.79	THCGX
THCGX	- 0.79	THCAX
THCHX	- 0.78	TVRFX
THCAX	- 0.77	TVRFX
THCGX	- 0.71	TGVRX
THCGX	- 0.71	TGVAX

Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg International Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Thornburg International's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TVRRX	1.01	(0.14)	0.00	(0.22)	0.00	0.00	1.71	(2.77)	5.28
TVRFX	1.02	(0.19)	0.00	1.09	0.00	0.00	1.71	(2.78)	5.28
TNYIX	0.12	0.00	0.30	(0.11)	0.15	(0.17)	0.34	(0.25)	0.92
TGVAX	0.60	0.20	0.32	5.12	0.58	(0.69)	1.56	(1.40)	4.34
TGVIX	0.61	0.23	0.32	0.46	0.58	(0.68)	1.58	(1.46)	4.33
TGVRX	0.60	0.20	0.32	4.82	0.58	(0.67)	1.52	(1.40)	4.31
THCAX	0.25	0.04	0.35	1.42	0.16	(0.31)	0.58	(0.39)	1.48
THCGX	1.21	(0.24)	0.00	0.79	0.00	0.00	1.70	(3.57)	6.23
THCHX	0.24	0.04	0.37	0.81	0.14	(0.29)	0.59	(0.38)	1.48

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